The country’s second largest software services company, Infosys Ltd, has posted a 5.3 per cent decline in net profit to Rs 1,722 crore on a sequential basis largely because of wage increases.
The IT major which declared its first quarter results for the current fiscal on Tuesday said revenues on a sequential basis grew 3.2 per cent to Rs 7,485 crore.
Infosys also gave its revenue guidance for the next quarter. It expects revenues to grow in the range of Rs 7,699 crore and Rs 7,810 crore or between 10.8 per cent and 12.4 per cent on a year on year basis.